A major British high street institution is on the brink of disappearing, putting hundreds of jobs in jeopardy. Russell & Bromley, the historic shoe retailer, is facing permanent closure, with two separate companies now in discussions to take over the business.
Historic Brand with 450 Jobs in the Balance
The potential collapse threatens 450 staff members across the chain's 37 locations. The company, which is currently run by fifth-generation family member Andrew Bromley, first opened its doors in Eastbourne in 1880, making it a fixture on the UK retail landscape for nearly 150 years. The news highlights the continuing pressures on traditional brick-and-mortar retailers.
Two Potential Buyers in the Frame
According to reports, two distinct entities are in talks to acquire parts of the struggling business. High street fashion giant Next is negotiating to purchase the Russell & Bromley brand and its intellectual property. In a parallel move, stock clearance company Retail Realisation is set to oversee the potential shuttering of the remaining physical shops and the sale of existing stock.
These proposed deals are among several options being considered by the chain's adviser, Interpath. Retail Realisation is linked to investment firm Modella Capital, which recently acquired other well-known high street names including WHSmith, Claire’s, and Hobbycraft. Modella forms part of the Hay Wain group, controlled by turnaround expert Jamie Constable.
Uncertain Future for High Street Stalwart
The situation remains fluid, with Retail Realisation maintaining its policy to "never comment on market speculation". The potential split acquisition – with Next taking the brand and Retail Realisation handling the store closures – signifies a stark outcome for the physical retail presence of Russell & Bromley.
This development follows a pattern of challenges for physical retailers, as consumers increasingly shift shopping habits online. The fate of this historic brand and its employees now hangs in the balance as crucial negotiations continue behind closed doors.
